S&P closes at record 16th time for 2014

Stocks ended Wednesday with modest gains that sent the benchmark S&P to a record level for the 16th time this year. Investors appeared to have shrugged off weaker-than-expected economic reports, such as private-sector jobs and trading deficit data. The S&P closed near session highs, up 3.62 points, or 0.2%, at 1,927.86. The Dow rose 15.19 points, or 0.1%, to 16,737.53. The Nasdaq ended the day up 17.56 points, or 0.4%, at 4,251.64.